HIGH street firms in Wales facing an increase in their business rates are to benefit from a share of a £10 million relief scheme from the Welsh Government.
Some firms in Wales are set to see their costs rocket in April as a result of business rate revaluations.
And, following concerns some small businesses would be forced to close, Wales’ finance secretary Mark Drakeford has announced a relief scheme through which firms will be offered discounts of between £500 and £1,500.
Mr Drakeford said: “This new scheme is in addition to the £10 million transitional relief scheme, which will also be available from April 1 and the £100 million tax cut for small businesses in Wales provided by small business rates relief.
“It will provide vital support to ratepayers on high streets across Wales and offer these businesses extra support.
“Work is already underway to develop a new permanent small business rates relief scheme for 2018.
“We are listening to the feedback we have received so we can make the scheme as fair, reasonable and transparent as possible.”
Ben Cottam of the Federation of Small Businesses Wales said: “This will go some way to providing breathing space for many businesses.”
Businesses wishing to apply for relief should contact the relevant local authority.